DWA’s Katzenberg To Receive 150% Salary Increase

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DreamWorks Animation

Dream­Works Animation

Dream­Works Ani­ma­tion CEO Jef­frey Katzenberg’s annual base salary will increase 150% from $1 mil­lion a year to $2.5 mil­lion under a con­tract exten­sion reached with the studio.

Katzenberg’s term as CEO will now run through 2017. His pre­vi­ous con­tract had run until the end of 2014.

He will also be eli­gi­ble for $4 mil­lion a year in cash bonuses. Accord­ing to United States Secu­ri­ties and Exchange Com­mis­sion, he will also be eli­gi­ble for long-term equity incen­tives of $4.5 mil­lion. These have been reduced from $8 mil­lion under his pre­vi­ous agreement.

In addi­tion, Katzen­berg will be com­pen­sated for such busi­ness expenses as pri­vate air­craft use for business-related travel and secu­rity personnel.

The new terms stip­u­late that if DWA changes owner, Katzen­berg could col­lect his com­pen­sa­tion for the rest of the cur­rent con­tract or for two years, whichever is longer.

Mean­while, Ann Daly’s term as chief oper­at­ing offi­cer has been extended through 2017, too. Her annual base salary is being hiked from $1.012 mil­lion to $1.5 million.

Daly will be eli­gi­ble for $750,000 in annual cash bonuses this year, which will be dou­bled in 2013. She also will be eli­gi­ble for annual long-term equity incen­tives of $3.5 mil­lion, up from $2.5 mil­lion under her ear­lier agreement.

Under a new agree­ment, gen­eral coun­sel Andrew Chang’s annual salary increases from $460,000 to $550,000, start­ing next year. The agree­ment runs until Jan­u­ary 1, 2016.

[Via The Hol­ly­wood Reporter www.hollywoodreporter.com/news/jeffrey-katzenberg-ann-daly-up-384615]

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